ThePlatform of Seattle is acquired by Comcast

A Seattle company that has quietly been working behind the scenes on technology for delivering video to broadband and wireless networks was purchased Tuesday by Comcast.

ThePlatform's Chief Executive Ian Blaine said the company, founded in 2000, was not looking to be sold.

"We really weren't," he said. "We were very focused on building our business and things were going well. We have been a provider to Comcast for years and knew them well, and they knew us well. This came out of that relationship."

ThePlatform will remain in Seattle with all of its 70 employees and operate as a wholly owned subsidiary of Comcast, the Philadelphia-based cable operator. Details of the sale, including the acquisition price, were not disclosed.

To date, the company had raised $12.5 million in venture capital and was funded mainly by Spark Capital and Generation Partners. Blaine said Comcast, which uses thePlatform to deliver video over The Fan Web site, was interested in the technology and the company's business.

"We have a deep relationship for years, and they understand the capabilities and know the team really well," he said. "That, combined with an appreciation for our business, it seemed like a good strategic fit for them. They believe in our model and what we are doing for customers." Blaine will now report to Sam Schwartz, executive vice president of Comcast Interactive Media.

Schwartz said Comcast is looking at how it can use thePlatform elsewhere within the company. "There are many synergies between the two companies and we will look to leverage that to expand both our abilities to deliver cross-platform services," he said.

ThePlatform will continue to support its customers, which include broadband services, such as Comcast, and content owners such as ABC News and CourtTV, and wireless carriers such as Amp'd Mobile and Verizon Wireless.

Blaine said Comcast will continue to invest in the company, which expects to hire about 30 employees in the next six months.

Vibha Agrawal, a Comcast spokeswoman, verified the company's intent. "We are very pleased and excited that the management team and employees will continue to remain and be based in Seattle. We will support their growth plan and their customers," she said.

Tricia Duryee: 206-464-3283